Form 1099-C and Cancelation of Debt is a system created by the Internal Revenue Service (IRS) to clarify all transactions made to taxpayers by loan service providers and creditors....
Posted by Pat Raskob on 10/16/2022
When you run two businesses with the sole proprietorship tax status, the IRS requires you to report each corporation's income and expenses separately. This means that your personal...
Posted by Pat Raskob on 10/07/2022
For a small business owner, tax season can be stressful, and the prospect of paying a large sum of money to the government is not really a pleasant one. That's why small business...
Posted by Pat Raskob on 09/30/2022
Should you invest your money in stocks or real estate?People often have doubts about what to invest in and when. Competitive home prices in up-and-coming neighborhoods are attractive...
Posted by Pat Raskob on 09/27/2022
ETF is an acronym for exchange-traded funds, an investment method that monitors the rate of transactions in one or more markets. The fund participates in the market in two ways –...
Posted by Pat Raskob on 09/19/2022
The Federal Opportunity Zone is for poor communities with a future under certain conditions, including the opportunity for new investments that can tap into some tax benefits. A community...
Posted by Pat Raskob on 09/10/2022
Tax filing after a name change can raise many questions. If you've ever changed your legal name, you know you need to notify the Social Security Administration (SSA) to make it...
Posted by Pat Raskob on 09/02/2022
The state of singlehood also affects your tax filing from the IRS. There are many filing status like single, jointly, divorced, head of household, and a qualifying widow(er) with a...
How the Internal Revenue Service defines and calculates different types of income affects the taxes you owe. Modified adjusted gross income (MAGI) is one of them. MAGI also decides...
Posted by Pat Raskob on 08/11/2022